A prime residential development site located at Jalan Naung is currently up for sale through an expression of interest (EOI) with an asking price of $8.38 million. The 999-year leasehold land parcel, which spans 5,408 sq ft, is zoned for residential use within a three-storey mixed-landed area under the URA Master Plan 2019. This translates to a price of $1,550 per square foot on the land area.
The land is situated in District 19, off Upper Serangoon Road, and is being marketed by Brilliance Capital as the sole agent. It has the potential to be developed into a detached house, a pair of semi-detached homes, or a strata mixed-landed project, subject to the relevant authorities’ approvals.
The site boasts an enviable location within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall are also a short 10-minute drive away. Additionally, several reputable schools, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School, are within a 1km radius of the site.
According to Brilliance Capital, the vacant plot of land is owned by a single seller, which will ease the acquisition process and ensure a hassle-free transaction for potential buyers. The land is expected to attract strong interest from developers, ranging from boutique firms to larger setups, as well as aspiring developers and end-users looking to build their dream home.
The founder and executive director of Brilliance Capital, Sammi Lim, comments, “It is a rare opportunity for such a versatile plot to be put up for sale in the market, particularly one that offers various options and permutations for development, catering to different needs and preferences, including multi-generation development.”
Interested parties can submit their bids for the land parcel via the EOI exercise, which will close on March 6 at 3pm.